Chaparral Energy execs ring opening bell on stock exchange

Celebrating the company’s listing on the New York Stock Exchange, Chaparral Energy executives were on hand Wednesday to ring the opening bell in New York City.

Trading of Chaparral stock, under the ticker symbol CHAP actually started in July. But Chaparral CEO Earl Reynolds indicated it took a few months to get listed on the exchange.

He and his leadership team were on hand to ring the bell during the opening ceremonies.

Nearly 38.6 million shares were traded on Wednesday as the stock closed at $17.25 a share.

It is considered a major turnaround for the company that filed bankruptcy protection two years ago and emerged in March 2017. By then, it had rid itself of $1.2 billion in debt.

Now, Chaparral has grown its STACK holdings to nearly 120,000 acres.

As for the opening bell ceremony and being traded on the New York Stock Exchange, Reynolds called it “just one more step in our overall plan.”